Discovery Communications, Inc. (DISCA) Position Cut by New Mexico Educational Retirement Board
New Mexico Educational Retirement Board reduced its position in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 5.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 14,700 shares of the company’s stock after selling 800 shares during the period. New Mexico Educational Retirement Board’s holdings in Discovery Communications were worth $362,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Beach Investment Management LLC. acquired a new position in Discovery Communications during the second quarter worth about $254,000. Retirement Systems of Alabama boosted its stake in Discovery Communications by 1.1% in the second quarter. Retirement Systems of Alabama now owns 74,557 shares of the company’s stock valued at $1,926,000 after buying an additional 775 shares during the period. ARP Americas LLC boosted its stake in Discovery Communications by 17.4% in the second quarter. ARP Americas LLC now owns 10,700 shares of the company’s stock valued at $276,000 after buying an additional 1,584 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in Discovery Communications by 79.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 13,745 shares of the company’s stock valued at $355,000 after buying an additional 6,066 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Discovery Communications by 1.9% in the second quarter. CIBC Asset Management Inc now owns 35,119 shares of the company’s stock valued at $907,000 after buying an additional 664 shares during the period. Hedge funds and other institutional investors own 44.22% of the company’s stock.
Discovery Communications, Inc. (NASDAQ:DISCA) opened at 22.49 on Friday. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of 11.93 and a beta of 1.59. The stock’s 50 day moving average price is $25.12 and its 200-day moving average price is $26.95. Discovery Communications, Inc. has a 12 month low of $22.12 and a 12 month high of $30.25.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.04. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Discovery Communications, Inc. will post $2.23 EPS for the current fiscal year.
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Several brokerages recently commented on DISCA. Pivotal Research reiterated a “hold” rating and issued a $28.00 target price (up from $27.00) on shares of Discovery Communications in a report on Sunday, April 23rd. MKM Partners reiterated a “neutral” rating and issued a $30.00 target price (up from $27.00) on shares of Discovery Communications in a report on Tuesday, May 2nd. Jefferies Group LLC reiterated a “hold” rating on shares of Discovery Communications in a report on Friday, May 12th. TheStreet cut Discovery Communications from a “b-” rating to a “c+” rating in a report on Thursday, May 18th. Finally, ValuEngine cut Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $27.27.
In other Discovery Communications news, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director S Decker Anstrom acquired 10,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were bought at an average price of $23.05 per share, with a total value of $230,500.00. The disclosure for this purchase can be found here. Insiders have purchased 45,000 shares of company stock worth $1,016,200 over the last 90 days. 5.78% of the stock is currently owned by corporate insiders.
Discovery Communications Company Profile
Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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